Alphabet's fourth-quarter results revealed a drop in revenue compared to Wall Street estimates, underscoring growing competition in the digital advertising sector and a notable slowdown in its cloud computing business. The Google parent's cloud division reported a 30% revenue increase, amounting to $11.96 billion, but this was below analyst expectations. Overall, Alphabet's revenue hit $96.47 billion, slightly under the expected $96.56 billion, yet the company still managed to report a profit exceeding estimates.
Alphabet missed Wall Street estimates for quarterly revenue, indicating challenges from increased competition in digital advertising and a slowdown in its cloud business.
Google's Cloud revenue grew 30% in Q4 to $11.96 billion, slowing from a 35% rise in previous quarters, showcasing challenges in the cloud market.
Alphabet's total revenue increased 12% to $96.47 billion, slightly below analyst expectations, reflecting pressures in a competitive market.
Despite falling short on revenue expectations, Alphabet reported a profit of $2.15 per share, surpassing the expected $2.13 per share.
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